Shiba Inu (SHIB) has been in a prolonged slump, dropping 18.7% over the last year. However, recent on-chain and technical data suggest a potential reversal might be on the horizon.
Despite a 3.5% dip in the last 24 hours, “Smart Money” wallets have been accumulating SHIB. Specifically, these wallets and retail traders collectively removed over 60 billion SHIB from exchanges, a sign of growing conviction.
This buying trend is supported by the Chaikin Money Flow (CMF), which tracks capital inflows. Even as the price retested a key support level around $0.00001226, the CMF showed a “higher low,” indicating that buying activity strengthened with each test. This suggests that large buyers are quietly accumulating at this price floor.
For SHIB to stage a recovery, it needs to hold above the critical support zone of $0.00001203. A successful break above the resistance at $0.00001271 could pave the way for a rally toward $0.00001350, marking a potential 9.6% gain.
However, if the price drops below $0.00001203, the bullish scenario would be invalidated, and the downtrend could continue.
August 2025, Cryptoniteuae
